NorthCrest Asset Manangement LLC Grows Stock Holdings in Orange County Bancorp, Inc. (NASDAQ:OBT)

NorthCrest Asset Manangement LLC grew its holdings in Orange County Bancorp, Inc. (NASDAQ:OBT - Free Report) by 100.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,985 shares of the company's stock after buying an additional 12,996 shares during the period. NorthCrest Asset Manangement LLC owned approximately 0.23% of Orange County Bancorp worth $608,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Wells Fargo & Company MN increased its position in Orange County Bancorp by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 2,999 shares of the company's stock valued at $167,000 after acquiring an additional 652 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Orange County Bancorp during the 4th quarter worth about $46,000. Public Employees Retirement System of Ohio bought a new position in Orange County Bancorp during the 4th quarter valued at about $60,000. Two Sigma Investments LP grew its holdings in Orange County Bancorp by 25.7% during the 4th quarter. Two Sigma Investments LP now owns 5,294 shares of the company's stock valued at $294,000 after purchasing an additional 1,084 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Orange County Bancorp by 52.5% in the 4th quarter. Renaissance Technologies LLC now owns 6,100 shares of the company's stock worth $339,000 after purchasing an additional 2,100 shares during the period. 42.55% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Hovde Group dropped their target price on Orange County Bancorp from $30.50 to $29.50 and set an "outperform" rating for the company in a research report on Tuesday, June 10th.

Orange County Bancorp Trading Down 1.0%

Shares of NASDAQ:OBT traded down $0.24 on Tuesday, hitting $22.90. 101,968 shares of the company's stock were exchanged, compared to its average volume of 29,176. The stock has a market capitalization of $299.99 million, a price-to-earnings ratio of 9.58 and a beta of 0.48. Orange County Bancorp, Inc. has a 12 month low of $20.97 and a 12 month high of $33.06. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87. The business's 50 day simple moving average is $24.51 and its two-hundred day simple moving average is $25.59.

Orange County Bancorp (NASDAQ:OBT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.67 by $0.10. The company had revenue of $27.98 million for the quarter, compared to the consensus estimate of $28.10 million. Orange County Bancorp had a net margin of 18.86% and a return on equity of 14.41%. Analysts anticipate that Orange County Bancorp, Inc. will post 2.83 EPS for the current fiscal year.

Orange County Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Wednesday, June 4th were issued a $0.13 dividend. The ex-dividend date was Wednesday, June 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.27%. Orange County Bancorp's payout ratio is 21.58%.

Insider Buying and Selling

In related news, EVP Gregory Sousa sold 2,440 shares of Orange County Bancorp stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $24.61, for a total transaction of $60,048.40. Following the transaction, the executive vice president now directly owns 10,280 shares of the company's stock, valued at $252,990.80. This trade represents a 19.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jon Schiller bought 6,451 shares of the stock in a transaction on Wednesday, June 4th. The shares were bought at an average price of $23.25 per share, with a total value of $149,985.75. Following the acquisition, the director now owns 12,446 shares of the company's stock, valued at $289,369.50. This trade represents a 107.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 6,689 shares of company stock valued at $172,121 over the last quarter. 9.30% of the stock is owned by corporate insiders.

About Orange County Bancorp

Orange County Bancorp, Inc, through its subsidiaries, provides commercial and consumer banking products and services, and trust and wealth management services to small businesses, middle-market enterprises, local municipal governments, and individuals. It accepts various deposits, including interest-bearing and noninterest-bearing demand accounts, money market deposit accounts, savings accounts, and certificates of deposit.